SureCloud, the provider of cloud-based, Integrated Risk Management solutions, has been placed on Gartner’s Magic Quadrant for IT Vendor Risk Management Tools for the first time after being recognised on Gartner’s Magic Quadrant for Integrated Risk Management Solutions back in July 2019.
The quadrant names 16 key solution vendors identified by Gartner as offering vendor risk management (VRM) solutions.
VRM solutions enable organisations to accurately ascertain the security and compliance risks associated with their IT third-parties, creating a centralised register of these parties and integrating this with wider risk management processes.
Richard Hibbert, CEO and Co-Founder at SureCloud, said:
“We are delighted that SureCloud has been included in the Magic Quadrant for IT Vendor Risk Management Tools; we think it underlines our ability to offer a truly comprehensive third-party risk management solution.
“Our flexible, scalable and highly configurable software-as-a-service (SaaS) delivery model, combined with managed service options, is proving particularly attractive to organisations looking to build a robust, central view of their vendor assurance program.”
Third-party risk management is a vital part of any organisation’s cybersecurity posture, with many third parties having access to highly sensitive data and offering criminals a potential route into their organisations. Demonstrating a clear awareness of each third party’s approach to security and risk management is also an increasingly significant element of privacy regulations such as the GDPR.
In response, SureCloud’s Vendor Risk Management solution is designed to offer a smooth and scalable means for organisations to assess and review all their IT third party vendors for potential risks.
The SureCloud Vendor Risk Management solution offers:
• A centralised register of all third-party IT vendors, giving a holistic view of risk
• A dynamically generated risk-assessment for each third party, ensuring they are only asked questions which apply to them
• Automated third party notifications and response reporting.
• Full integration with wider IT risk management processes and data privacy programs.
Gartner, Magic Quadrant for IT Vendor Risk Management Tools, Christopher Ambrose, Joanne Spencer, 25 November 2019. Gartner, Magic Quadrant for Integrated Risk Management Solutions, Jie Zhang, Brian Reed, 15 July 2019.